Forex Price Action

Another A+ CT AUD setup! Formed a BEEB on the D1 was well.

Kul trading mate!


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I stayed away from this one as that big bueb was countered with a bigger beeb.

Currently involved in the cadchf. A pb on th 4h and set my pending below it. Has been triggered but price isnā€™t play nice yet. We shall see.

Itā€™s with the trend and pb formed at a khl.


the purple line is a d1 KHL (not one i just threw up to validate my trade)

note: PB could of been bigger

Darth

Damn didnā€™t have this chart added. Iā€™m quite new to the sgd pairsā€¦ Had to Google what it stood for the other day lol. Kudos though. I would of been all over it.

Darth

Hi chisha,
That makes complete sense, so it would be more sensible to let the price fall to a significant resistance level before going long. I did not know that requirement for a pin, lesson learned!

Hi Will,

The pinbar: Pin Bar

The engulfing bar: Bullish and Bearish Engulfing Bars Introduction

The two-bar reversal: 2 Bar Reversal Price Action Trading Guide

Cheers

Hehe :slight_smile: Couldnā€™t say no to the kul colours!

I adopted them too :smiley:

GBP/jpy Daily market structure.


I see a ranging market. See how price smoothly bounced at the support level. By the looks of it the resistance has quite some choppiness.
However if you got a decent level and Pa signal than by all means take it.(at this stage I am not convinced to take any Long trade on the sterling pairs).

Cheers

add to that that we have inside bars for the last 4 days following the BEEB, looks like it is going to be an explosive move. I am just not happy with the RR :S

Iā€™m sorry Will I lost you there, maybe I didnā€™t explain myself clearly. When you say let the price fall to a significant level before going long-This is in fact what we do on all setups, we wait for price to come to a level we deem significant & make plays from there because this ensures that were only entering at strong levels. In this case you were looking to go long at that level because you considered it a key level. I hope you read the links Dudest put up for ya.

Hey guys,
Thereā€™s a pin on AUDCAD 6HR. We can see that this market has been trending upward and has now made a pullback to a support area that had price stalling back in May. I think this might be a good entry level to go long with the trend and Iā€™d put my TP level at the most recent upswing. Thoughts?


Nice level and all but I prefer the pin to be larger. Good luck though!

Iā€™m not playing it though. Iā€™m travelling this week so Iā€™m not making any trades. Youā€™re right about the pin being too small, I was thinking about those preceding black bars they look pretty commanding in comparison to the pin. Not a very convincing setup but I do like that the market has been going up strongly.

Exactly mate

this is true on the other hand the vbrn 1.000 is a major support turn resistance line and the market has been up on the short term and down on the long term. This maybe the turning point of the short term to marry up with the long term.

We are short term swingers here I have been told before but IMHO you have to take everything into account with PA as you are only letting the graph tell the story. i think it will give up more ground before it bulls are back in charge.


Obviously the week hasnā€™t finished. but food for thought. Thatā€™s starting to look like a good beeb on the W1 chart at khl and at a VBRN.

dARTH.

Thank you for that analysis Darth.
You know that makes sense, this could be a potential turning point & to be honest youā€™ve made me zoom my chart further out than I did previosly. Your thoughts are very much appreciated.

I did read the links, thanks a lot Dudest! Thanks for the info, think Iā€™m just getting myself a bit confused!

Eur/Jpy Daily IBs,


Thatā€™s how you make bombs.
I am anticipating a breakout from this box.

Cheers

Heya Bobba,

can I ask why you got out on Friday?

When we all entered this trade, there was a really clear first support level for price to move into. Sometimes we just have to let price do itā€™s thing and turn the computer off.

We either have to take the trade and have faith in them to do what we have set out or not take the trade at all. The trades we are taking are high probability and thatā€™s why we are not taking millions of them. When the winners come we need to make the most of them and trade them when we see them.

The other thing is why no holding over the weekend? Trading daily and above it is super, super rare that gaps will hurt you. Itā€™s a different story trading 15 minute charts obviously, but trading daily I nearly always hold my trades if they have not reached their levels and I did with this one.

Johnathon

I was also afraid of keeping my positions open over the weekend, but as you already said, there is nothing wrong with keeping them. If you had a nice and clear signal, just enter the trade, put your S/L as you always do and thatā€™s it. People can miss some great opportunities if they exit the trade on friday!